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Wal-Mart profits fall shy of analyst expectations Friday, 17th August 2012
Image courtesy of Wal-Mart
Full-year profit at Wal-Mart may fall shy of analysts’ expectations as international growth slows pace.
The retailer was hit by rising unemployment, high gas prices and increasing food costs both in its domestic market and abroad.
Wal-Mart is planning to open more stores worldwide and is expecting growth across its regions, although it will slow down store openings in South America.
Sales at stores open for a year or more grew 2.2 per cent in the second quarter.
This progress did beat analysts’ expectations of 2.1 per cent. The growth pace at Wal-Mart’s largest store slowed from a 2.6 per cent rise in the first quarter.